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First National Bank Crestview Establishes New Endowment

02/24/2004

In the highly competitive banking business, Alan Renfroe knows an individuals success still relies on education.

"Because we have a place like OWCC where people can get a good foundation in higher education, it will pay benefits for that person and our community later on," said Renfroe, president of First National Bank of Crestview in announcing a $12,000 donation to establish the First National Bank of Crestview Scholarship Endowment.

"Our bank is located in one of the fastest growing cities in this state," said Renfroe, "and we want students from our area to have the opportunity to attend college. If our scholarship recipient wants to go into banking then, that will be a bonus."

"But we sure want them to come to work for OUR bank first," Renfroe added with a chuckle.

Renfroe credited the bank's board of directors, including chairman Jake Wingard and director Larry Parker, in making the decision to create the permanent scholarship endowment fund through the OWCC Foundation.

"There may have been two other reasons for funding the scholarship," said Renfroe. "We are proud the bank's senior vice president Dale Rice, Jr. serves as vice president of the OWCC Foundation, but we also like the fact our donation will be doubled by state matching funds."

Dr. Bob Richburg, president of OWCC, said First National Bank of Crestview "has been a player for our college in many ways over the years. This scholarship sort of formalizes our relationship even more." Richburg noted the bank's support of the Arts Center Campaign, the college's athletic program and other initiatives.

Richburg said not only does the banks contribution qualify for matching funds from the state's Community College Scholarship Matching Program, but the bank's donation establishing the new endowment also helps the foundation with its Annual Fund Campaign goal of creating ten new endowed scholarships this year.

"The scholarship by First National Bank of Crestview also symbolizes the college's growth in the Crestview area with the expansion of our Sikes Center facilities to meet the increasing demand for courses," said Richburg. "We appreciate the bank's generous donation and our foundation will grow the gift to serve future generations."

When fully endowed by state matching, the First National Bank of Crestview Scholarship will provide financial support for tuition and books for a student from the Crestview area to attend OWCC.